Cricut Q3 net income up 38% to $17.2M; revenue down 1% to $174.9M

Cricut, Inc.

2023-Q3 EPS reported $0.19 revenue$533,901,000

Net income $17.2M ($0.08 diluted EPS) vs $12.4M in Q3 2022; operating income +36% to $23.7M.
Subscriptions revenue $76.3M (+11% YoY); connected machine revenue $49.5M (-6%); accessories & materials $49.1M (-12%).
Total users 8.6M (+16%); paid subscribers 2.7M (+11%); international revenue up 36%, now 21% of total.
Generated $36.4M cash from ops in Q3; ended quarter with $173.6M cash, debt-free.
Special dividend of ~$232.2M distributed in July; share repurchase program has $20M remaining as of Nov 1.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Cricut, Inc. reported third quarter ended September 30, 2023 results: revenue $174.9 million, net income $17.2 million, EPS $0.08.

Period: third quarter ended September 30, 2023
Revenue: $174.9 million
Net income: $17.2 million
EPS: $0.08
Result: reported results

Exact text from the filing

Reports Third Quarter 2023 Financial Results Total users grew to over 8.6 million, up 16% over Q3 2022 Paid subscribers of approximately 2.7 million, up 11% over Q3 2022 Delivered 19th consecutive quarter of profitability with net income of $17.2 million, up 38% over Q3 2022 Delivered Q3 2023 revenue of $174.9 million, 1% decline compared to Q3 2022 SOUTH JORDAN, Utah, November 7, 2023 (GLOBE NEWSWIRE) -- Cricut, Inc.

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Source: SEC EDGAR

accession 0001828962-23-000107

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